The present invention relates to product labels, and more specifically to a multiple function interactive product label (MFIPL).
Current product labels or tags are typically of two types, those that remain on a product during use of the product by a consumer, and those that are discarded after purchase. Both types of labels have only limited functions and provide only limited information. Those permanently remaining with the product typically do not identify the name and location of the store where the product was purchased, the price paid, the purchaser's name, or other data which could be useful to know about the product after it is sold to the consumer. Such information would be valuable to retailers that allow merchandise to be returned.
Additional tags or labels are required by the manufacturer and others involved in the distribution chain to track the progress and associated financial performance of the product through the distribution process. The additional tags require time-consuming steps such as tag attachment and detachment. More importantly, the information provided by the tags to the distribution channel is incomplete. At a retail point-of-sale, usually only the type of item sold is recorded, not the specific item itself. Therefore, it is usually not possible to do a perpetual inventory and to track the exact costs associated with each item leaving the store.
Therefore, it would be desirable to provide a single product marking device that contains specific information about each item, that allows the information to be updated, and that stays with the product throughout the life of the product.